Earlier this week, the Energy Information Administration (EIA) released its International Energy Outlook 2018. The report focuses on the impacts of macroeconomic conditions and growth patterns on energy markets in China, India, and Africa. EIA notes that economic development in these regions is “likely to have important implications for global energy markets because of increased demand from the production and provision of goods and services.” The U.S. may be impacted in its role as an energy exporter.
The report finds that China will remain the world’s largest producer of energy-intensive goods in 2040. Despite the projection that India will have the world’s largest population and the fastest-growing economy, total energy use and energy use per capita in India is lower than in China or the U.S. The report anticipates an expansion of the manufacturing sector and increase in industrial energy use in African countries.